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Adila0924
June 29, 2023
Question

Undeposited funds when client pays with quickbooks payments (ACH or CC)

  • June 29, 2023
  • 1 reply
  • 0 views

I need help clearing out "undeposited funds" account. Here's what's happening - The invoice is created on quickbooks online and is then paid by client via the link (ACH bank transfer or Credit card). 

But in undeposited funds I have every transaction that is paid via quickbooks payment link. 

They show payment to A/R and deposit to Checking. 

Undeposited Funds 01/02/2023 Payment  Paid via QuickBooks Payments Undeposited Funds A/R         9,555.05 $9,555.05
 
Undeposited Funds 01/03/2023 Deposit   Paid via QuickBooks Payments Undeposited Funds Checking -$9,555.05  $0.00 (balance) 
 
Undeposited Funds 01/17/2023 Payment Paid via QuickBooks Payments Undeposited Funds A/R           $718.24   $718.24 (balance)
 
Undeposited Funds 01/18/2023 Payment Paid via QuickBooks Payments Undeposited Funds A/R           $263.84   $982.08 (balance)
 
Undeposited Funds 01/18/2023 Deposit   Paid via QuickBooks Payments Undeposited Funds Checking  -$718.24   $263.84 (balance)
 
Undeposited Funds 01/19/2023 Payment  Paid via QuickBooks Payments Undeposited Funds A/R          $703.30   $967.14 (balance)
 
Undeposited Funds 01/19/2023 Deposit   Paid via QuickBooks Payments Undeposited Funds Checking -$263.84  $703.30 (balance)
 
Undeposited Funds 01/20/2023 Deposit   Paid via QuickBooks Payments  Undeposited Funds Checking -$703.30 

 

When I click on payment it says the amount was deposited already. When I click on deposit, it already shows a match has been found. Please help? Thank you

1 reply

T
Trish_T
June 29, 2023

Hi Adila0924,

 

It's a pleasure to see you in Community.  Welcome!  QuickBooks Online Payments is a dynamic way to allow your customers to pay upon receipt of their invoice.  I'd be happy to provide some insight here!

 

Payments received are recorded by default to the Undeposited Funds account, while the amount received will be deposited to the bank account you've provided during the set up.  The undeposited funds will automatically be recorded as a 'Match', if you have a Bank Rule applied.  However, to ensure you're on the right track with your QuickBooks goals, I recommend contacting us outside of Community.  A member of our Customer Care team will be excited to work with you directly and navigate you through the process, so you can accomplish your QuickBooks goals with confidence!

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.
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Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.
 

If you have any other questions, feel free to reach back out.  We're always glad to assist!

 

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